BEML targets metro rail sector; posts Rs3,013 crore sales in 2008-09
10 Jul 2009
BEML Ltd, a defence public sector undertaking, is planning a strategic move to tap the huge business opportunity in the metro rail projects that are coming up across the country, the company's chairman and managing director, V RS Natarajan said in Bangalore yesterday.
The maker of metro rail coaches and mining equipment said many tier I and tier II cities could be floating metro rail projects in the next decade.
''We hope to capture at least one-fourth of the Rs 1-lakh crore business in metro projects,'' he said.
It had recently bagged an order for 150 coaches from the Bangalore Metro Rail Corporation (BMRC), worth Rs1,672 crore, in addition to an earlier order from the Delhi Metro Rail Corporation (DMRC), valued at Rs1,356 crore. Its now eyes Chennai, Pune and Hyderabad metro projects.
The first set of metro coaches will be delivered to BMRC by October 2010.
Meanwhile, the company in 2008-09 posted sales of Rs3,013.47 crore, a 11 per cent growth over the Rs2,713.34 crore sales registered in the preceding financial year.
Natarajan said the company is looking at a turnover of Rs4,000 crore for the year 2009-10. Its has an order book of Rs5,036 crore.